Loans, overdrafts and buying on credit are all ways of borrowing money. Different methods of borrowing have different features, which make them more or less suited to types of situation and types of people. Before you choose a type of borrowing you must make sure you will be able to afford the repayments.

To help you identify whether or not you can afford to borrow money, click here to use MoneyHelper’s budget calculator. 

Click the following links for more information:

If your spending exceeds or is nearly the same as your income you should think carefully before borrowing, especially as interest rates may rise or you could lose your job. To find out information about interest rates and APR – click here

For further information on borrowing money including details to check such as the length of the loan agreement and basic APR concerns.follow this link.

A debt repayment calculator to see how long it will take you to pay off your loan or overdraft, is avaiable from MoneyHelper.

A Guide to Borrowing and Debt, including everything you should do before you borrow the best ways to pay off your debts, can be found at AdviserBook.

What to do if you feel that you are not getting the service that you expect from your loan company or you have a specific complaint, is available at this link.

A template letters (MS Word Download) is available Letter if you need to complain to your loan provider

If you require advice and help settling a complaint about your loan company, follow this link to the Financial Ombudsman Service, or click here for their Frequently Asked Questions page.

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